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Utilities Extension Project


SW 6 & 7 Financing

DEP State Revolving Fund (SRF) Loan
•Clean Water (CW)  - Wastewater and Irrigation
•Drinking Water (DW)  - Potable Water
•Currently  2 % to 3 % Interest Rate

20 Year SRF Loan Repayment

SRF Clean Water (CW) = $74 Million
Funds Wastewater and Irrigation
•SRF Drinking Water (DW) = $16 Million
•Funds Potable Water
•Total Estimated SRF Loan Amount = $90 Million 

The City offered three different payment options:
•Initial Prepayment Period

Adjusted Prepayment Period

•Amortized (Default Method) : - Billed via the tax bill annually

Hardship Program
Method of deferral of annual payments
•Applicable to the amortized method only
•Based upon income qualification

Must qualify annually

Community Development Block Grant (CDBG)

•Set aside $50,000 for this program in FY14
•Grants  for very low income families to connect from meter to the home, septic abandonment fee, and the meter fee.
•The household must be income qualified
•The property must be owner occupied and homesteaded
•The homeowner must be current on monthly mortgage payments